I’ve been thinking about this for a while and of course lots of tax talk for this election, but think more clued up Mumsnetters can probably do better than me. This morning I’ve discovered that in the U.S. they get money off their taxes for mortgage interest and doing home improvements. Mind blown, I’d never have thought of that. I think you can file as a couple instead of two individuals there as well, and tax breaks per child? Of course lots wrong with the U.S. system (everyone having to do their own tax return, and lobbying accounting firms preventing a PAYE scheme that would put them out of business for one) but it got me thinking about possible changes in general. I’m mainly thinking around personal tax rather than business tax, though feel free to think big.
I think putting the personal allowance way up to bring a lot of people out of paying tax would be a start, this would also save some money on UC for the lowest paid. We know most tax is paid by higher earners anyway. Fix the cliff edge that’s earning over £100k too. Maybe be able to opt to pay taxes as a couple if you choose if one member of the couple is a much higher earner, for UC you have to be treated as a couple for your income but not for other households.
Interested to hear thoughts